This is for all main blog posts.
Regulators have sent a chilling message to the securities industry by imposing record fines for widespread and longstanding failures against J.P. Morgan Securities LLC, a subsidiary of JP Morgan Chase & Co., a multinational investment bank and financial services company. The … Read More
If your firm offers a wrap fee program to clients or recommends that clients participate in a wrap program, now is an opportune time to review your fee disclosures and billing practices and best execution protocols. In July 2021, the U.S. … Read More
A recent filing by the U.S. Securities and Exchange Commission (“SEC”) against a California-based advisory firm should serve as a cautionary tale for compliance officers. It provides keen insight into the SEC’s ongoing effort to seek enforcement action against firms … Read More
Market gains since the Great Recession have rewarded investment firms with record assets under management. And the challenges posed by the COVID-19 pandemic have changed the way many of us work, perhaps for a long time.
Protecting senior investors from financial exploitation has long been a primary focus of state regulators who say most state advisers still lack adequate procedures to do so.
The continued growth of investor assets participating in wrap fee programs has prompted regulators to maintain a sharp focus on the programs as part of an ongoing assessment of market-wide risks and matters of importance to retail investors saving for … Read More
If firms needed a resounding wake-up call regarding the importance of delivering newly required client relationship summaries (Form CRS) to retail investors in a timely manner, the U.S. Securities and Exchange Commission (SEC) has provided one.
Failure to disclose conflicts of interest. Making misleading statements. Creating positive incentives and negative pressures for its sales force. Failure to adopt and implement written policies and procedures.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has directed the Commission to consider whether it should revisit 2019 guidance and 2020 rule amendments regarding proxy voting advice[1]. In a related move, the SEC has suspended enforcement of rules … Read More
A growing interest in funds focused on Environmental, Social, and Governance (ESG) assets has prompted the U.S. Securities and Exchange Commission (SEC) to see that investors are better informed regarding ESG-related risks. There just happens to be a difference in … Read More